American Express has a great portfolio of small business cards, that often have increased welcome bonuses. In this post I wanted to talk about the offers, the general advantages of applying for Amex business cards, and how to go about completing the application.
American Express business card options
Here are some of the different small business cards that American Express offers:
The advantage of applying for Amex business cards
There are a few things worth knowing specifically about applying for Amex business cards. Anecdotally:
- Applying for Amex business cards doesn’t count towards Chase’s 5/24 limit; that’s because these applications typically aren’t reported on your personal credit report
- If you’re an existing Amex cardmember and apply for another Amex card, your credit won’t initially be pulled; this means that if you get a preliminary denial based on existing information, it won’t ding your credit score
- Among business credit cards, I find that Amex cards are significantly easier to be approved for than Chase or Citi cards
The restrictions on applying for Amex business cards
Amex’s general restrictions on applying for cards is as follows:
- You can generally have at most five Amex credit cards at any given point; it doesn’t matter whether they’re personal or business, and this limit doesn’t include charge cards (none of the above are charge cards); note that some report getting approved for six or even seven cards, but that seems to be the exception rather than the norm
- You can typically be approved for at most two American Express credit cards in 90 days, though there are some inconsistencies when it comes to that (again, this doesn’t include charge cards)
How to fill out an Amex business card application
Those who already have business credit cards are probably familiar with the application process, but for those who aren’t, here’s what you need to know.
It can be intimidating to apply for your first business credit card, though even if you’re a small business or sole proprietorship, you should be eligible. When applying for an Amex business card, you’ll be asked the following questions:
- Legal Business Name
- Business Address & Phone Number
- Industry Type
- Company Structure
- Years In Business
- Number Of Employees
- Annual Business Revenue
- Estimated Monthly Spend
- Federal Tax ID
If you’re a sole proprietorship, how should you approach this? First of all, and most importantly, answer everything truthfully. I think the concern that a lot of people have is that they think they need an incorporated business, a separate office, etc., in order to be considered for a business card. That’s not the case:
- You can use your name as your legal business name
- The business address and phone number can be the same as your personal address and phone number
- You can select “other” as your industry type, if that’s the case
- If you’re a sole proprietorship, you can select that as your company structure
- In terms of years in business, there’s no shame in saying it has been less than a year, 1-2 years, etc.
- In terms of the number of employees, saying just one is perfectly fine
- For the federal tax ID you can put your social security number
While a lot of people are intimidated by applying for their first business card, I think most are pleasantly surprised at the results. Again, the most important thing is to always be truthful on the application.
American Express business cards can be very beneficial additions to your wallet, so hopefully this is useful for anyone who hasn’t yet applied for an Amex business cards.
As a reminder, here are some of the different small business cards that American Express offers: